Tesla share: Change of strategy in Tesla’s solar business – sales to third parties instead of own projects

shares in this article

• Tesla’s solar business has grown significantly since 2016
• Several solar projects are canceled by Tesla
• Change of strategy: Tesla probably wants to focus on third-party sales

Tesla’s solar business has been on the upswing in recent years

With Tesla’s solar offering, you can not only significantly reduce your carbon footprint, but also make yourself independent of the grid, as the company explains. A promise that more and more customers have taken advantage of in recent months and years. According to the Tesla Impact Report, the company sold around the billionaire Elon Musk in 2021 energy storage products with a volume of 4 gigawatt hours (GWh). In total, this covers 15 percent of the global market of 25 GWh. As recently as 2015, the energy storage products provided by Tesla were worth less than 0.5 GWh. However, in order to switch global energy consumption to renewable energies, the annual production of battery storage systems must be increased to around 10,000 GWh worldwide, the company explains.

Several solar projects are stopped

As Elektrek now reports, the upswing in the solar business was not entirely without problems. Accordingly, the US company recently canceled many solar projects, including some at an advanced stage. In addition, Tesla is said to have stopped operating the solar business in some markets. Some of the affected customers contacted Elektrek and reported being informed via email that their projects were being discontinued and the orders being cancelled. “Thank you for your interest in Tesla Solar. Upon further review of your project, our team has determined that your home is in an area that we no longer serve. Since we are unable to fulfill your order, we have processed your cancellation. You will receive within 7-10 working days a full refund of the deposit paid on the deposited card”, according to the wording of the e-mail. Areas where solar supply is no longer available include key solar markets such as Greater Los Angeles, Northern California, Oregon and Florida.

Change of strategy in the solar division?

According to Elektrek, the fact that Tesla no longer covers these markets could speak for a change of strategy in the company’s solar division. This could also be supported by the fact that Tesla is said to have laid off a number of employees in the solar planning, design and manufacturing department. In the mail to the affected customers, Tesla also referred to “Tesla-certified installers.” Now, amid the cancellations, third-party referrals, and layoffs in its own solar planning department, Elektrek surmises that Tesla may be recalling its own solar projects and supplying third-party suppliers instead.

E. Schmal / Editor finanzen.net

Image Credits: David Calvert/For The Washington Post via Getty, Nadezda Murmakova / Shutterstock.com